Davis says Pike deal ‘should have been’ concluded yesterday | News

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The government’s 25-year agreement with Pike Corporation, through its Bahamian management company Island Grid Solutions, to upgrade and manage Bahamas Power and Light’s (BPL) transmission and distribution (T&D) network on New Providence, should have been finalized yesterday, Prime Minister Philip Davis said.

Davis told reporters the agreement, along with all of the documents connected to the government’s energy reform process, will be laid in Parliament “within the next three weeks”.

His comments came on the sideline of a commissioning ceremony for two dual-fuel turbine engines, which have added 62 megawatts of power to BPL’s New Providence grid.

“That should have been done today sometime,” said Davis when asked if the agreement with Pike had officially been signed.

Asked when the deal will be made public, he said, “All the documents related to our energy reform will all be made [public] one time.

“That includes all of the utility solar grid provider agreements. They are all under negotiation right now.

“We don’t want to have piecemeal laying of these documents because it’s a big picture and we don’t want pieces left out. So when you have all them signed, they will all be laid [in Parliament] and you will see them at [that] time.”

In June, the government announced it was entering into the T&D agreement with Island Grid Solutions.

Under a joint venture partnership, the government will own 40 percent of the shares in a special purpose vehicle (SPV) called Bahamas Grid Company, and Island Grid Solutions will own 60 percent.

As part of its energy reform plans, the government also plans to incorporate liquefied natural gas (LNG) which will be sourced from Shell North America.

The government said it will set up an SPV to purchase the LNG directly from Shell which will then sell it to independent power producers.

Yesterday, Davis said the government will own the LNG pipeline.

“The government is not divesting anything,” he said when asked about this.

“What the government is really doing is finding capital to put in this infrastructure and working out an arrangement with the capital provider where they can recoup their investment through a partnership arrangement.”

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Davis says Pike deal ‘should have been’ concluded yesterday | News

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